Raiffeisen Bank International AG Trims Stock Position in Eli Lilly and Company (NYSE:LLY)

Key Points

• Raiffeisen Bank International AG has reduced its stake in Eli Lilly and Company by 1.9%, owning 166,855 shares worth approximately $137 million as of the recent reporting period.
• Eli Lilly reported earnings of $3.34 per share for the quarter, falling short of analysts' expectations of $4.64, while also achieving a 45.2% year-over-year revenue increase to $12.73 billion.
• The company recently declared a quarterly dividend of $1.50, translating to a 0.8% annual yield, with a payout ratio of 48.82%.

Raiffeisen Bank International AG trimmed its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 166,855 shares of the company's stock after selling 3,316 shares during the quarter. Eli Lilly and Company makes up 2.2% of Raiffeisen Bank International AG's portfolio, making the stock its 5th biggest holding. Raiffeisen Bank International AG's holdings in Eli Lilly and Company were worth $137,242,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of LLY. PNC Financial Services Group Inc. boosted its position in Eli Lilly and Company by 97.5% during the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock worth $83,669,349,000 after purchasing an additional 50,002,551 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock valued at $12,278,292,000 after acquiring an additional 14,852,076 shares in the last quarter. Capital International Investors lifted its position in shares of Eli Lilly and Company by 23.2% in the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company's stock valued at $6,740,272,000 after acquiring an additional 1,645,222 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Eli Lilly and Company by 16.1% in the fourth quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock valued at $8,304,811,000 after acquiring an additional 1,493,673 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Eli Lilly and Company by 14.6% in the fourth quarter. Northern Trust Corp now owns 9,448,219 shares of the company's stock valued at $7,294,025,000 after acquiring an additional 1,204,337 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 0.7%

NYSE LLY traded up $5.42 during mid-day trading on Monday, reaching $767.75. 3,348,700 shares of the company's stock traded hands, compared to its average volume of 3,528,007. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The company has a fifty day simple moving average of $775.51 and a 200-day simple moving average of $800.52. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. The company has a market cap of $727.63 billion, a price-to-earnings ratio of 62.47, a P/E/G ratio of 1.08 and a beta of 0.44.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same quarter last year, the business earned $2.58 EPS. Eli Lilly and Company's revenue for the quarter was up 45.2% compared to the same quarter last year. As a group, equities research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is currently 48.82%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LLY. Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their target price for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Guggenheim upped their target price on Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, UBS Group dropped their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,012.56.

Eli Lilly and Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.